On Aug. 26, the San Marcos CISD board of trustees voted to raise the district's property tax rate by 6.41 cents per $100 of property value.
Bringing the tax rate to $1.4141, from $1.35 last year, the increase will be used to repay debt approved by voters during a $77 million bond election in May, trustees said.
Board members also voted unanimously to adopt a 2013–14 budget of $57.35 million for operating expenses, up from $56.49 million in the 2012–13 budget. The district is projecting it will dip about $620,000 into its reserve funds to cover expenses in the coming school year, although Superintendent Mark Eads said the actual amounts could change favorably.
"With the exception of one year in the last seven years, we've been able to add back to the fund balance each year," Eads said. "Even as of today, potentially we're going to be able to add back this year as well. We always overestimate expenses and underestimate revenue."
